For those that have been following my blog for a while now, know that I like to make buys every single month no matter what market conditions may exist. It was this attitude I had towards investing that enabled me to continue to make monthly buys even during the depths of the financial crisis and to slowly average down each position in my portfolio as it was bleeding red from top to bottom. I feel that having a steady attitude and discipline is key to being a long term dividend investor. There are some people out there that like to buy high and sell low as panic sets in. There are others that sell each time a stock cuts its dividend. For my personal taste I always ask myself if the market and company has fundamentally changed or not. Am I looking at a broken stock or broken company? Typically I find that the answer is a broken stock more so than a broken company. It was this realization that allowed me to keep and add to my General Electric Company (GE), Wells Fargo & Company (WFC) and Ingersoll-Rand Plc (IR) during the depths of the recession and dividend cuts. My present self is happy that my past self did not sell any of those shares at a loss back in 2009. The take away from all of this is to remain disciplined and put those dollars to work in all market conditions. There are always decent buys that are available in every market. With that being said I’d like to share my most recent buy. Sticking to my April stock considerations, as well as having some free trades expiring this month, I decided to continue to add to my Canadian bank holdings and average down my purchase price further.
I have added to my ROTH account 14.7411 shares at $54.27 for a total investment of $800 in The Bank of Nova Scotia (BNS). With this recent purchase my ROTH account holdings in BNS now totals 100.0607 shares for a value of $5,423.29.
I am still looking to initiate a new position in Dover Corporation (DOV), as mentioned in my recent April stock consideration post as well as another potential newcomer Archer-Daniels-Midland Company (ADM).
What do you think about my most recent purchase? Is BNS or any other Canadian bank stock in your dividend income portfolio? What about DOV and ADM? Please let me know below.
Disclosure: Long GE, WFC, IR, BNS